SCB Jumpstart Reviews and Comparison - Seedly
 

SCB Jumpstart

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  • Reviews (19)
  • Questions (1)
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SCB Jumpstart

Up to 2% p.a.
INTEREST RATES
None
MINIMUM INITIAL DEPOSIT
None
MIN. AVE DAILY BALANCE

    SCB Jumpstart

    Up to 2% p.a.
    INTEREST RATES
    None
    MINIMUM INITIAL DEPOSIT
    None
    MIN. AVE DAILY BALANCE
Reviews (19)

4.8

19 Reviews

  • 5
    16
  • 4
    3
  • 3
    0
  • 2
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  • 1
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Read Review About...

saving account

grab voucher

debit card

open account

fuss free

bank online

standard chartered

recommend account

jumpstart account

emergency funds

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  • Posted 9h ago

    Purchased

    SCB Jumpstart

    Great savings account for young people! Managed to sign up conveniently online, but even though the website stated instant account opening, it took nearly a week after application for my account to be opened. Online banking is quite easy to use, although I was suprised that the mobile banking app inferface is not as well designed as the desktop web inferface. I also recieved a debit card which I have yet to use. Overall, I would recommend this account to anyone who is eligible.
    0 comments
    0
  • Posted 1d ago

    Purchased

    SCB Jumpstart

    Customer service was quite rigid - mostly giving default answers. However, this is one of the most fuss free and good rate savings plans I would say
    0 comments
    0
  • New kid in town, best savings account! Easy 2%, no hoops required. Sadly only up to first 20k. All the young peeps need to start using this account!! Also received the 2 x $10 Grab vouchers (wasn't even expecting it)!
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  • [Fuss Free] [Application Process] I opened the account on my laptop via my singpass and the bank account was opened immediately without having to wait. There was no fuss and i opened the account without any issues. There is a complimentary debit card that would be sent to you as well in a matter of days (got mine within a week). I also received free x2 $10 Grab vouchers in my email a few minutes after the signup, which was a nice touch. [Terms and Conditions] [Interest] There was no minimum amount needed to be parked in the account, but 2% interested P.A is applicable for the first $20K in bank. This is a good bank for students or those who just need somewhere to keep emergency funds as the interest is noticeable in the long run. For example, I have around $3,600 in my bank. I will be seeing interest earned at $4 per month or $72 P.A! This is a jump from my DBS savings account, which i had ever since i was young. The interest rate is also higher as compared to CIMB bank, which is at 1% interest when i joined. [Online Banking] It has an easy-to-use interface and not complicated to learn to use, which is a huge jump from the CIMB online banking (it was just horrible). [Customer Service] This would be a bit of a hassle for people as Standard Chartered does not have any ATMS or outlets islandwide. But I really didn't mind this as it was used as a savings account and I have no intention of withdrawing money out. I had an issue with the online banking login credentials so I had to go down and visit the bank personally. It was frustrating as the bank closed at 5PM and I did not expect them to close early. However, I went back down again and the customer service I received there was top notch as the agent that served me was really nice and made me feel comfortable throughout the entire consultation.
    0 comments
    0
  • Fast and Easy application process using your Singpass. Interest credit every 1st of the month. Received $20 grab vouchers in combination of $10. Not required to down to any standard chartered branch. Debit card will be mail to your address Ibanking details will be given through email
    0 comments
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Questions (1)

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Bank Account

DBS Multiplier

SCB Jumpstart

Looks like a fairly solid plan. Jumpstart is a great deal if you meet the age restriction. On the side investment account side, I assume you are planning to keep these accounts running once you leave Singapore. In that case, I would suggest having a think about keeping it all inhouse (ie use SCB for investments as well). The cost would be higher than doing it all separately but it would be much easier later on to manage. If there are any hiccups with the account and/or ad-hoc changes needed, it is going to manage with one provider if you are offshore.

How to maximise the interest rate for SCB JumpStart Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for SCB JumpStart savings account is 2.00% p.a. for account balances up to S$20,000, all year round.

Benefits from SCB JumpStart Savings Account

There is flexibility in accessing funds anytime and earn competitive interest rates. It also comes with a Cashback debit card with no monthly or annual fees.

Terms and fees for SCB JumpStart Savings Account

  • Initial deposit: None
  • Citizenship status: Singaporeans and PRs with a valid SingPass
  • Minimum age to open account: 18
  • Maximum age to open account: 26
  • Minimum Average Daily Balance: None
  • Fall below fee: Free
  • Early closure fee: Free